CEO of South Korea’s KEB Hana Bank, Ji Sung-kyoo, has revealed that the commercial bank is set to embrace digitalization and globalization.

The new CEO of KEB Hana announced that the bank will transform its business to become a data company, with teams of experts already tasked with the development of digital technologies, including artificial intelligence, big data, and blockchain.

Ji said during a press conference at KEB Hana Bank’s headquarters in Seoul, “Our goal is not to adopt a ‘digital touch’ while retaining our traditional banking business, but to transform ourselves from a commercial bank to a data company from the core. We believe this is a path that separates our ‘digitalization’ strategy from that of other banks or companies.”

Next month, KEB Hana Bank is also preparing to launch its “Global Loyalty Network” platform in Taiwan, a system powered by blockchain technology. The platform will allow users to make transactions with digital cash across multiple countries through partnerships with third-party companies.